10 Votes

Boost it!

German Company Offers GM $1.3 Billion To Buy Opel And Turn It Green

Agent009 submitted on 11/19/2008 Official Bell & Ross Timestamp: 12:02:47 PM

9 user comments | Category: Misc News | Source: | SOURCE: www.bloomberg.com

Solarworld AG, Germany's third- largest solar company, will offer to buy the German operations of General Motors Corp.

's Opel division and transform it into a green carmaker.

The solar-panel maker wants the world's largest carmaker to pay it about 1 billion euros ($1.3 billion) to take over Opel's 25,700 German workers, the Bonn-based company said today in a statement. GM would also have to cut ties with the Ruesselsheim, Germany-based company it acquired in 1929. Solarworld slumped as much as 21 percent in Frankfurt trading.

Solarworld said it could make 250 million euros in cash available and provide 750 million euros in credit lines, pending government approval, to acquire Opel's four German factories and GM's development center in Ruesselsheim.


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German Company Offers GM $1.3 Billion To Buy Opel And Turn It Green

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Agent009

"If everything seems under control, you're just not going fast enough."

— Agent009 (View Profile)


User Comments

GreenPlease

Shoe is on the other foot, eh?

— GreenPlease (View Profile)

Posted on 11/19/2008 1:05:31 PM | reply to this comment | Votes: 4   

91z4me

Wait I am confused is the article saying that the Solar company wants GM to pay it $1.3 billion or it wants to pay $1.3 billion for Opel?

Either way GM would be making a pretty darn bad move to get ride of Opel now that it is making money again after GM supporting it for the early 90s.

— 91z4me (View Profile)

Posted on 11/19/2008 1:15:37 PM | reply to this comment | Votes: 2   

Bmw8ter

These guys must be running on the assumption, GM is on the fritz....lets propose buying one of it's better marque's for pennies on the dollar.

— Bmw8ter (View Profile)

Posted on 11/19/2008 2:59:42 PM | reply to this comment | Votes: 1   

woood

IMO, just maintain Chevy and Cadillac and the rest of the brands can be archived.

— woood (View Profile)

Posted on 11/19/2008 11:37:58 PM | reply to this comment | Votes: 1   

Badgewhore

Americans should just abandon the automobile business like they did the electronic industry. They just can't compete, they cause more problems then they solve. Sell everything to someone else and let them deal with the problems.

— Badgewhore (View Profile)

Posted on 11/20/2008 12:56:05 AM | reply to this comment | Votes: 0   

mini22

They can compete provided that they are able to pay unions the same wages as non union workers.This has been their inherent problem for decades.Further they need to be smaller(especially GM-They should keep Chevy,Cadillac,Buick and Saturn and either sell or scuttle the rest)and more efficient.

— mini22 (View Profile)

Posted on 11/20/2008 12:18:52 PM | reply to this comment | Votes: 2   

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